The NBA requested on Wednesday a set of laws that would be the basis for professional sports leagues pursuing national legalized wagering on games.
NBA attorney Dan Spillane, testified in front of a New York State Senate committee. He made it clear what the NBA's price would be to become a partner in legalizing the multibillion-dollar industry.
One percent is the asking price for the NBA on every bet made on its games. This request will create a massive revenue for the NBA and possibly other sports in the future.
The NBA also wants its fans to have more widespread access to gambling, pushing for bets to be made legal on kiosks and smartphones, instead of just inside casinos. This would increase the amount of wagering, thus creating more revenue for the NBA.
"We have studied these issues at length," Spillane said in his statement to lawmakers. "Our conclusion is that the time has come for a different approach that gives sports fans a safe and legal way to wager on sporting events while protecting the integrity of the underlying competitions."
Nevada had $4.5 billion in sports wagers in 2016 and it's expected to be over $5 billion for the first time in 2017.
The NBA, NHL, NFL, MLB, and NCAA have spent millions in legal fees fighting. With the NBA leading the charge, other leagues may start to follow suit and begin to fight.
"States like New York and others have reacted by moving forward to discuss and advance new laws that could immediately thereafter permit legal sports betting," Spillane said. "We cannot sit on the sidelines while this activity is occurring."
Professional leagues in France and Austrailia receive a small percentage of bets made on their sports. The NBA has formed a position on the matter after studying Australia's laws.
The NBA and MLB have discussed with Indiana lawmakers to insert a one percent "integrity fee" into a sports gambling fee. The hope is the one percent fee would help pay for other regulations.
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